First Friday Q&A on Oil and Gas This Week OGTW197
You're listening to the oil and gas this week cut cast with Martin liqueur and decor soap or busy oil frozen quickly. Want to keep their finger on the pulse. What is he going on guys? Welcome back from another episode of the when we yes we podcasts and into episode one hundred ninety seven were getting close at two hundred mark mark. Mark Mark Varga at. We got some special plan for two hundred episode. Hopefully this corona vars thing. Does it keep us from getting together because if it does we'll push it out so where can get together but just stay tuned? We got some cool stuff going on the Jake. You how much we love our sponsors whole bunch a whole bunch and so we've been very lucky here. Og we picked up some new sponsors so big shout out to our existing sponsors IBM tight water Baker Hughes New Tannock's but our new sponsors are really cool too so he's picked up Amazon Technique Deafen. See the well boss Interest Houser. Saxon and drager so big. Shout to all the our new sponsor coming on some of them are picking up some older shows and some of them are actually starting their own show stay tuned audience. We got a whole bunch of stuff coming next month. Busiest hell but this is the first Friday. Qna although it's not actually Friday. Let's get into questions actually before we get into questions. Do the Review Jake. Yes we got to review from our good buddy. David Ramsden would as a lot of you know. He's become quite notorious on linked in over the past year. He writes love of Mark and Jake. You're doing and have done for getting a voice of the industry out in the Airways for professionals and amateurs alike cube great work levy guys. Dirw Love Levin Hugs. Dr In. He's not controversial at all. Now not now one bit. Usually just like boring in lake stays in the center lane and that yeah go check about. He also just released a book to it. Needs definitely sold more than six hundred copies. So he's got a podcast new book super. Check him out. He's a good friend of the show. I was joking people. He is very controversial. Actually loved that very much. Speaking the truth about what's going on what needs to change so delicious. Podcast is actually really good artists. Get right into the questions. You guys know the drill. You guys writing questions. We try to answer them. And hopefully don't shut stump us or asking for single again so for question up from Stephen Uses senior industry analyst at NALCO champion Red Slow. The podcast always looked forward to a new episode. Keep up the good work. I got two questions question one. Us and Canada have a public data set in FRAC focuses their public data set for offshore completions. The only one that I know of in the US in any of our Canadian listeners. Please chime 'cause I don't know how it's in Canada but the only WANNA know hearing. Us's Bessie B B Dot Com. They have a huge data center. All this stuff's going off shore and you can query ball kinds of different methods. The website itself is Kinda dated the way it looks and the way it runs. But it's a full the wealth of information. That's the only one I know of yet. I'm and I have a ton of experience and most of my work has been on shore particularly upstream and so I don't know of any but would love to know if anybody knows of one. Please let us know listeners. Now second question from Steven is for the completion. Chemicals segment oil and gas seems more. Operators are D- bundling by buying chemicals right from the chemical manufacturer instead of bundling chemical package provided by a service company is going to be the trend moving forward or will it be an about face in. The operators will go back to the bundled model of the positives and negatives of both who? That's a bunch of questions in their slip. Let me just say what I've seen going on in the last ten years so it used to be that all the chemicals not just things for completion but all the own gas chemicals were bought through the service companies and the reason they did that number one. It was easy to right one. Po instead of two number two if the chemicals weren't what they were supposed to be service companies on the hook not the manufacturer and the Chinese entered the market and they dumped a bunch of low-cost chemicals on the market in the very beginning. They were a lot of quality stuff. But then of course equality declined. And what happened? Is You thought your by X. And you're in what you actually got was X. minus half and so now it's back to at least here in North America where people are buying chemicals through the manufacturers. It's sort of like what Sam Walton rely. So Sam Walton's genius was it and build a whole bunch of retail Walmart stores with Sam's waltz genius. Was He figured out that back then? The distributors of ones. Making all the money so if you wanted to buy say tide laundry soap tied manufacturing back then then they send it to a big distributor who then sold it to retailers. It's what Sam Walton figuring out is. The logistics is where the money made she got rid of distribute got middle rhythm middleman and tied shipped laudi churches straight to the stores and he had a bunch of technology in place to make sure that was efficient. Way To run things. And that's what you're seeing right now in August and chemicals. You're seeing that. The operators have figured off the skip the middle of the distributor or the service company. They get stuff much cheaper now. What I think's GonNa Happen is as we continue down this road of more and more technology coming in especially in upstream. I think you could see the service companies bundle things like chemicals along with their technology along with their services so I think you could see the model swing and a big circle about two years and I think it about two years from now in North America in upstream you'll see the chemicals come back to be predominantly delivered by the service companies. But right now. It's all about getting her that middleman and lowering. The cost of your operations actually seen a one chemical provider in particular geochemical. We had him on the oil and gas sort of show on like six months ago but one thing that they provided was not only. Do they have like this? Does van that comes out in the the the chemicals you'll the work but they also provide you analytics on top of that if actually what is working what is not working and so. I see more and more of that of of a company's becoming more data analytics companies on top of traditionally pretty analog businesses and places where there really hasn't been a whole lot of structured data before and that leads me. Answer the question from my point of view. But that's why see things going. No you're exactly right jake. So what's GonNa Happen? What happened a few years? Those chemicals will be able to be tweaked per operator per well per completion portfolio. So you're not GONNA get that type of on demand changing of the formula little bit from the manufacturer who ran out manufacturers at bulk. I think in a few years to come back to your point because of technology and the people that are actually delivered we'll be the service companies but bill tweak those chemical compositions to drive officiency. I think it's just that's just right around the corner. Absolutely next question is from Tom. Logger add schlumberger. Back of Jake. I WanNa see how good of a job he hasn't been doing this. Podcast is extremely informative in has been a great resource for someone like myself who is just started in the in stream. Thanks don appreciate it. My question is what the economics of petrochemicals in today's market. I recently read that. Exxon Mobil have reported a drop in profits for the fourth quarter. Seeing that profit margins for finding it. Chemicals have deteriorated. I was under the impression that would cheap oil and gas prices petrochemical production would should be booming with a larger profit margins. Can you guys explain why this isn't the case or from getting the wrong end up stick? So you're absolutely right so of course. Exxon Mobil Corporation has dropped prophets for bunch of reasons. The same reasons a lot of other companies are suffering but back in twenty six eighteen. When everybody was suffer. Low CRUDE PRICES EXXONMOBIL'S PETROCHEMICAL. Division was booming fact. Their international petrochemical vision in that year grew one hundred percent revenue year-over-year and if you're as big as Exxon Mobil and a piece of your business grows one hundred percent that's that Unicor right. That's at once in a lifetime type of thing. What's happening is because the low crude and natural gas prices have continued that the petrochemical market has boomed here in the Gulf coast. We spent almost one hundred billion dollars in new petrochemical plants including things like ethylene crackers in the same things happen across the US and across the world. Actually so the reason you're seeing this drop and petrochemical margins is because so many new players have entered the market. You know the people that got it right back. In Twenty say twelve twenty thirteen and either grew their petrochemical plants. New built new ones are stood up. Ethylene crackers made a hun- a prophets and because you're making profits. More people entered like you see. It's always supplied man and now you're starting to see those margins be squeezed because there's so much more competition out there but the bottom line is the petrochemical part of oil and gas industry is growing. It will continue to grow and it will continue to grow into the world's population levels out which is another whole story in itself. But you got the story exactly right. You read the article if they go into detail about how. Exxon has a whole upstream. Operations or pipeline operations has suffered and petrochemicals which save them back in two thousand sixteen. Seventeen isn't as prophets. Used to be and it's not as profitable as it used to be because you have more competition absolutely. Petrochemical is not my space so mark much better than I have so from James Uses student. He writes thank you for the very informative podcast. I'm listening for quite some time after setting to go into petroleum engineering. I'm now in my second year on a like a lot. However I see the wolves changing away from oil and intended to move on to a different major. Is that a good idea or not. I'm not sure. Can you tell me what to do if you're starting out at this time? So we've covered this one a lot especially I mean really since the beginning but I feel more particularly over the last like six months or so. Obviously were in a transitional phase for oil and gas particularly upstream particularly on shale. It's a tough time. I think especially with the overreaction to corona virus and the implications and asked for the global markets along with the news which we totally forgot to talk about the beginning of OPEC has not reached agreement on any of the production cuts in. So it seems that everybody's posturing they're all gonna just open the floodgates and just completely World with with an oversupply of crude. In so everybody's speculating. That oil prices. GonNa Drive Down to blow thirties like we saw in fifteen or maybe even lower than that with. That's actually going to happen or not. I don't particularly know if that does happen. That's bad news for a lot of people. A lot of a lot of people are GONNA BE OUT OF JOBS. Unfortunately and a lot of them are going to be engineers so. I would say in the event that that does happen. I think you're kind of vulnerable by completely pigeon holing yourself into one thing that we talked about a lot in the past is that I know a lot of mechanical engineers that are petroleum engineers mechanical engineers who are software engineers and mechanical engineers. Who are civil or anything else? And so. That's my personal advice is you're able to head yourself against the cyclical nature of this business. You can never predict commodity prices but in addition to that like we've said a million times the thing is to also broaden your skill set in learn a little bit of data science and Monia Code. And that's going to be extremely valuable. I have a good friend who actually was a petroleum engineer. When really heavy on the data science side got put in charge of data science project at a very large operator huge? Us He fell so in love. The data science side of things in wanted to do more. That actually went off to work at a grocery store essentially but not actually stocking shelves or anything but actually on the data science side and so I've seen a lot more that and that's not to be pessimistic our industry. And that's not to say you should come to this because there's a lot of opportunity but I think you should hedge yourself against the cyclical nature of the business and some of the political implications that you can't control alike. Took the poor student James Question through the OPEC thing it probably scared the Bejesus out of him and his entire class. They're all switching to home. Ec. Major's right now so so James. I agree with everything Jake said but because of this negative public perception. There's already short of Charleena Juniors and your second year in school which means you get out in two years. I think you get out. There's such a short petroleum engineers. You have twenty job offers waiting for you when you get out but jake is right in that especially petroleum. Engineering is very niche tends to be only upstream. Only when times are good. They hired petroleum engineers. I will say this much last time I checked is one of the highest paid jobs out of school just but that means you have to get a job so agreed that you need to hedge. That was something else that is not related to hydrocarbons data. Science is always great same. Learn how to sling some code but the other thing is it's interesting so jake talk a little bit about OPEC has come to agreement yet. Russia's saying they don't care they're flood the market. I think it's political posturing anytime you negotiating contracts that scale in the news. You'RE GONNA posture to try to sway the other side. I don't think it's either good for OPEC or for Russia to have thirty dollars. A barrel for oil that I think they both know that but regardless the upstream part of our industry cycles back and forth. And you have something else that makes you valuable. It's great but one thing you said in your note that WanNa talk a little bit. Is that the world has changed moving away from oil. That's not true and it's really interesting so you would believe that if you look at all. The automobile manufactures just recently finished car. Shopping picked two vehicles and I shopped for a few months and Jake. Do you know how many electric vehicles assault and dealers? Lots a whole bunch was. Actually I really know so I remember this is just in Houston right the just the places looking but of all the lots. I went to the only lot that had electric vehicles on the lot. That you could go test drive was Honda. Said they had him. He said they were coming but they weren't any on the lot and it was really interesting to me to look at the buzz now. A perfect example. I bought two infinity's well about six years ago. Infinity Corporation who's owned by Nissan said that by year twenty twenty half of their vehicles electric will jake about to infinity's in a Nissan. I mean he does have a single electric vehicle lot. They have some hybrids but electric vehicles. So it's really interesting to watch what the public especially the automobile manufacturer saying you had. Gm made a big announcement account electric. Hummer and I'm sure they will which appears to be really cool but a different than what people are actually buying and the demand for. Hydrocarbons GOES UP EVERY YEAR. The thing that gets kind of scoreless much does it go up so this Kuroda viruses causing a slowdown in manufacturing in China which is causing a slowdown the demand for hydrocarbons but the demand is still there. And it's still going up now. It's not going up four five percent like we like it. It's GonNa Point Zero Zero two percents. I'm not real worried about. Hydrocarbons disappeared what I am worried about. Is Public perception making it harder and harder for for our industry to make profits? So it's it's you know I would not be worried at all about James. About graduate If you have something else to fall back on something. That's not petroleum related. Just understand that when you get out. In two years up shing -partment industries could be a totally different industry than it is now but we still need patrol. Engineers will always be truly matures absolutely. See a little bit of a little bit of the optimistic side. A little bit of the pessimistic side but regardless if we're just keep unreal and ask questions from Michael who is also a student. Your Rights Market Jake. First off huge fan of the podcast. I'm a political science major that is set to graduate in. May I believe as a political science major possess a unique understanding of how geopolitical conflicts affect the global markets in regard to energy demand and supply? I believe I can bring value to companies through this but I do. Lack of financial knowledge typically desired for entry level positions. Do you have any recommendations on a career? Were Education Path to get my foot in the door with the industry. You Know Jake Libyan students. I will quick so first thing Michael. I wouldn't worry about the financial acronym believe it or not. That is a pretty common skill. Set the geopolitical part is not a pretty common skill set. So I was you. I'd be banging on the big consulting doors to Ernestine Young's the KPMG'S THE MCKENZIE'S. They will have geopolitical practices internally to help their oil and gas clients. And if you can just get in the door. One of those companies and start learning the nuts bolts of how global geopolitics affects the oil and gas. And she I think you. After a couple years you can have a skill set and experience at that very very few people have the financial acronym is important but there's way more people that understand the dollars and since August. That understands geopolitics even even some very senior people in our industry even you know some executive. Vp's and directors of some largest super majors out. There don't really understand geopolitics and it's a hard thing to get your hands around just because it varies so much between country country so I really think you're better off concentrating on your geopolitical background. Get some work experience. One of the big consulting companies and then really the sky's the limit. You could work for super-major Start Your own consulting company. I would definitely Koch Religio political part of what you're doing right now. Yeah I agree. A hundred percent consulting great thing to get into way. Mark said all these consulting firms have a huge geopolitical and economical component to their business in pushing me a lot of money to and from what I hear people who really enjoy consulting when they like to say about his younger doing new projects all the time. So it's not necessarily the same thing over and over again so look into. Obviously those are not companies that are easy to get into. I think kind of where you go to school plays a big part. Fortunately so something to look into. I think if you just brought up next question from an anonymous Shetland love it. I would say market. Jake I WANNA share with this week. So the encouraging the executive vice president of Technology Projects Services CEO in upstream townhall today was asked about why Chevron quickly transitioning to green energy clearly and unequivocally stated that the world would need oil and gas for the foreseeable future in other worldwide economy cannot run without. It elaborated for a solid two or three minutes. It was very encouraging because it might experience even in this country. Many people who don't seem to understand the importance of our industry. I wish this dialogue could've been put on Youtube frigging love this and Chevron. Don't try to figure out. Who anonymous is this this type of stuff chevron putting out not earn our podcast and he's right there should have been put on Youtube. You know it's it bothers me that they're people are industry that understand the truth that understand that it's not necessarily align with current public perception and so they're bit fearful and I'm not talking about you know that you need to be talking about your opinions and politics ultimate. Just the truth what he said. Here's actually a truce. The world economy cannot wrote out. Hydrocarbons every glad they're semi in Chevron especially a senior person telling the truth to their people now wish they would make this public. Yes in fact Chevron if you WANNA make this public late jake and I know and we'll come record with you and we can have a great discussion around this but this is really cool. It's my road. Let us know that you know some senior leaderships in one of the Super Majors understands reality. What's going on not what public perception says today in Twenty Twenty and absolutely? I think it's a fantastic thing especially from a company of this size when there's a whole lot of greenwashing going on there's a whole lot of the issues of kind of pressuring some of the beer companies will and like you said a companies like this are not putting out the kind of content they need. It would be fantastic if a company like Chevron was putting out this kind of content letting people know that it will needs oil and gas in your energy is important component of the future. And it's something we have to pay attention to but it's not necessarily one of the other. I think it's it's both and so I would. I would love to see them. Put out something. That was not the only thing I can references that one. Api commercial from the Super Bowl was related accomplish whole lot but anyways next question from Chris who is a senior financial analysis somewhere roads. I just recently found this podcast and it's been a great addition to my library. Information is inciteful and help me better understand the global nature of our industry in how we fit in. Keep up the good work. I started my career as a refining engineer. Moved into the finance world a few years back what I've noticed that while we fit into the energy sector our company in other publicly traded companies seem to be a financial engine that is funded by our core technical operations so to me a lot of what we do comes back to the bottom line. In the question of how. We're Mickey Money for shareholders and investors. So my question is twofold so first question is given that industry is complex and has lard revenue streams. We are ripe for activist. Investors to sweep in enforce changes with your experience in the industry. How has this shaped current space in your opinion has this positively or negatively impacted street as a whole over the past twenty years? So let me take a real quick shot at so. This'll be something you probably would expect. You say in some ways actually a lot of ways except it's affecting industry very positively when Exxon Valdez Spill. Activists CAME IN ENVIRONMENTAL ACTIVISTS. Came in and force changed that quite frankly was good for the entire industry for chain around each metrics force. Change on how we operate. It forced change in the amount of money we invest in cleanup tools and processes in where we store that. So if there's mercy quickly get the right tools and people to their site. We needed to have happened. So in that case it's helped us. The thing worried about is not the last twenty years. It's the next twenty years where you're seeing activists come in and you're spot on because of the way. Our business is structured because large complex. Large revenue streams. It's relatively easier for political and financial activists to come in and change course. And that's what I'm worried about. Now you're looking at people. Not being able to drill pipelines up being able built us not being able to use water. Let's not be disposed to produce water and all that stuff is being driven by activists who don't understand our industry and what's happened is you can drive cost up and you could drive costs up to the point that stuff that people can afford now such as cars or six packs of Budweiser's on the weekend or you're makeup may get pushed appointed so expensive. The common person can't afford it anymore. And so then you could create that wealth inequality you could make it even worse because you're adding layer of cost to an industry as vitamin concept. The past twenty years actually think a lot of activism helped us the future the next twenty years. What are really really worried about. Second question is recently. Jp Morgan Chase came to the market sitting. They will pull financial support for some fossil fuels which we talked last upset mainly they will not finance the new oil and gas development. The Arctic and will significantly decrease investment in. Coal is just a small portion of fossil fuel portfolio. But they are by far the largest also fuel lender but as a signal of more to come. My question is this. If large financial institutions do begin to pull the support for industry. Where does the space go for? Its funding needs. So is this a sign of things to come yes? There's going to be a lot more of this over. The last year have been very involved in talking to a lot of the big players. And we're GONNA see a lot of this. It's a little bit unfortunate. Wall Street is in part to blame but especially the shale industry has also kind of screwed us on a little bit of a way. But where's the money going to come from it? That doesn't mean that all money is completely drying up. There's a ton of money that is waiting on the sidelines to come into the industry invest. But they're looking for good returns. Okay Nanto the fact. The matter is that the shale industry hasn't returned what they said they were going to and so when you do that time and time again. Investors get burned but is there an opportunity to make returns in this industry absolutely? We talked about this in the last episode of other countries. You can necessarily give can returns that you can get in oil and gas and so we have a ton of foreign investors with a ton of worth individuals a ton of family offices that have no pressure whatsoever. These guys can make decisions completely on their own. And so those are the guys are going to be getting into the oil and gas industry but they need to find good investments. I think the challenge is going to be given the current climate. So Chris so first thing. All Global Network has decided. We're not invest in Arctic. And we're not investing coal. The truth is nobody's invested in Arkwright now investigating coal so the fact that JP Morgan sending were doing it does it. Matter 'cause nobody's doing wells Fargo. Just yesterday came out the statement saying they're not investing Arctic drilling. Nobody's investing Arctic drilling right now. That oil is so expensive. You know if we tend to if we go below fifty or forty dollars a barrel. I mean it just doesn't make financial sense all needs to be around one hundred ten dollars a barrel to make fiscal since to drill and produce an Arctic. So nobody's junior so the fact that he's copies come out and say they're not doing it doesn't matter 'cause nobody's doing the other thing. I WANNA agreed jake. One hundred percent one hundred ten percent actually but the other thing is because of technology. You're seeing new wastes invest in our industry. You're seeing Jake probably news companies which you're seeing fractional investment companies being stood up using tech where you know ten years ago if Jake and I wanted to invest in some assets in Oklahoma we had a bill right check for ten million dollars. Now we can check for five hundred bucks and whole other people right check for five hundred bucks and now we've invested in assets in Oklahoma. I think that's GONNA be a big wave of the future but the industry's changing upstream. In the way we finance projects not just an object actually say these pipelines right now for some of the same reasons but the way they used to finance pipeline projects is changing right now as well now everybody gets a little bit worried when things change because human nature is. We don't like change but every time there's changes opportunity so if you're in the industry for thinking about getting in the industry look at how these changes are happening from a financial investment. Point of view is figure out where you can make a dollar off that income into it. Absolutely next question is from Rubio so easy. Kim Question Graduate Student who actually won the shirt. Oh that's right. He said the picture of forgot about that. So now he's coming in. He's coming in swing. Mark said why he always referred to academia with a bad inefficient connotation. You know we also do cool stuff for the industry to love the show up totally busted on that when I read. This is like you had to think about from it. And it's not a big fun of academia but what you'll hear me say a lot I'm gonNA try really hard to quit saying it. Because he's right. There are a lot of great stuff not only comes out of academia. The truth is a whole bunch of really awesome stuff. Come out a students like having graduated yet. They come up the best ideas the best processes new techniques new technologies. The thing make fun of sometimes though is that for longtime our industry especially in upstream has fell in love with the theory. Like oh we can do this. The academia part of this and what I've been saying for a lot of times they don't show me academia. Show me where. Somebody's actually really doing it in the field to make sense where the rubber hits the road works. Execute will. But you're absolutely right. I've been saying academia in a slightly negative way and I gotta quit doing it because a lot of great stuff comes out of academia so my apologies and I'm working on trying to change the way I talk about that stuff. Last question of the week is from the Niece Sousa project manager at Halliburton a jake. Last name Hieber say that if she some Louisiana. It's a bear which you would never think you'd get a beer out of that word but anyway it's just funny when speaking of that I. I Call Justin Goaty. Justin gaither like six months. We gotta work on your French hits. It's awful Eretz. Hey guys love the show so much that sometimes my friends and I will get together and listen to my house while drinking wine silly had no here. My question was the CEO belt that Mrs Interesting Sweep. I hope we're entertaining. I guess so here my questions what do you think. The future of podcasting. How large in old companies best UC PODCAST for their business? What about individuals and their careers? Please keep the great work and if you could buy two publishing one show week that I can make us even happier. We've been blessed by a decent. Halliburton drinking wine pile casting. We're not even out of the national anthem if we're looking at it in terms of innings by casting as a huge huge future moving forward and it's so funny because it's actually been around for what eleven years now you know the longer it took a long time to catch on but once it did. It's absolutely blown up. And we've seen as a ton of moving the space that is really validating the fact that podcasting is becoming a bigger and bigger thing so the CEO of spotify was actually. He was quoted as saying the reason that they're investing so heavily into podcast. Because podcasting an audio books things like that are consuming more people's quote unquote ambient time. So what do you mean by? That is really downtime. It's when you're doing the dishes is when you're driving. It's maybe when you're working. You know more people are starting to wear headphones or air pods the I have a set of those now in its Leave men half the day. Because I'm listening to a PODCAST E book or I'm taking calls on it so I think the future Pike Essy's extremely bright I think power of audio is that you can still go about your day and be doing things as opposed video at ease. Really all of your attention. I think video has a bright future as well but I think podcasting is definitely works at individuals careers. I think it's a it depends on what you do. I think you have to be a little bit interesting sometimes or provide some kind of educational tool to people. But I think it's a great way to showcase your expertise to help you stand out amongst other individuals. It's the future. Podcast is great. It's interesting so if you look at what like net flicks is done lately. They've figured out so. Netflix is not immediate company. Netflix is a big data analytics company. That happens to get their data from the media that you consume it so net flicks knows if you're thirty five year old male and you're married you have household income between one hundred hundred fifty thousand dollars that you like X. type of programs will now. They're creating those type of programs in house right because they have the data to know exactly what's hit the old Hollywood way of doing it. Is You would put out some shows. You would do a pilot. And you'd see people listen you get your Nelson results. And then you'd figure if you wanted to go and make another sees which was a big risk of big financial risk the new ways these content providers are now figured out what they WANNA know ahead of time in their monetize it themselves. Their produce the content themselves without going outside without going to the Hollywood and the reason I bring all it up is apple depending on who you believe is between seventy and eighty percent of all podcast traffic in the world. They are eight hundred pound gorilla. And we've had some conversations with them. I'm firmly convinced they're going down that same route where they're going to get certain creators to create unique content for Apple. That will be behind some type of paywall and so I think the future is great. The one thing I have my own is augmented reality. Jake hit the nail on the head. The power the podcast is that you can do other stuff while you're listening you can drive. You can wash dishes. You can work out. It's the same thing I do. It's it's it's a great way to learn while I'm doing something else. I listen a ton of podcast. Augmented reality actually. Has that same potential? Where you wear the the Google glasses are you wearing the contact lens and you can still function to do other stuff but learn consume content so we have an iron. Augmented reality is is maybe touching. Podcast is some way the very near future. But like Jake said it's only grow and it's only growing bigger. It's like seven thousand new podcasts that day aluminum tubes insane next question. How can large in old companies or whatever? She's talking about large companies best. She's a podcast for business. The first place to start is internal communications now if you work for big companies like Halliburton your pr people in your HR people internally. Cindy's thirty slide powerpoint decks only seven-page emails telling you what's coming up next year and it could be something simple as how your health benefits or changing. Why don't you turn out to podcast? We're actually working with two companies right now. Too Big also full service comes and helps them stand up their own internal podcasts. For this exact reason. It's a great way to communicate with your employees. The only thing that's hard about it is very easy to download podcasts on itunes. However you can't yet separate your internal podcasts from police podcast in things so you have to create some type of site where you're placing listen to it in the key. There's make it as easy as possible for them to download it and listen to it on whatever mobile device they're using because if you make people listen to your pot internal podcast on a desktop or laptop is not going anywhere. But that's a great way for a large company. Use It is for internal communications. And then once you get comfortable with that and you're okay with it you realize the world's knock in because you have an internal podcasts. Think about External think about using his way to educate your current customers in your future customers. Podcasts greater that the without individuals in their careers you know Jake you and I both have benefit. I mean honestly from a career point of view and from a financial point of view by having this podcast in in our other podcasts so I think if you have a good story to tell I think it could benefit your career and quite frankly if you work in oil and gas. It's probably not a bad. Thank you have a side Gig where you make a little bit of money in a podcast? You can do that relatively easy. Ask the more niche. Your Continents Niche expertise is the easier. It is to monetize that so I think he can help you. Both your career and as an individual. You know you get to meet people that you normally wouldn't get to meet. I mean on some of our shows. We've had some people on the shows that we would've never got to meet when I was working for corporate. You know but having the pockets allows we beat people. Interact with us. I think it's a good all the way around. And then I get it Jake and I. I know we don't always publish a show every week. We're working just keep your fingers crossed. Just drink some more wine. I guess at wraps up the questions for this week so like you heard. Us Talk With Raheel Leo. He actually received the the very unique. Obgyn it has a t-shirt so it has the was. It called the patent. The paper pump check yup on their comes inside in official origin insulated. Tumbler redrawing. Each one of these serialized in so when you're doing a drawing giving away some grand prizes to pay attention to that so just go to link in the show notes. Sign up for that your chance to win one of those. Let's see what the weekly recount is doing? We are were stagnant ready. Thirteen has really hasn't gone anywhere. It's the exact same. Where was last week? A Bet Vicks week it makes a big change. I one hundred percent not gonNa make a big think racial on liberal quick. Get back to the shirt so you taught. Her Jacob talked about two or episode. We're doing something really cool. One big service companies. I'm telling you people were invited. A select few people to come see this person and one of the ways. We're invite people people have this unique serial number and it won't be the only way it's one of the ways so go register putting there go register for that. Then you heard US talk about the street team. We actually got swag shake X. out to Catherine. She founded designer. Should they designed a shirt the street team? And it is the coolest frigging shirt and put some money into. This is some seven dollars shirt but join a street team. We asked for an hour's worth of work a week. We don't care where you are in the world and quite honestly if you can't do an hour's worth of work we're okay with that we knew life gets away. You're basically just helping us a social media so cool swag you get to join us as part of a pressing for in your local area get live events for free all for click. Unlike in Sharon stuff on social media says pretty good deal and then she went to know about all of events that are going on only gas industry plus some of the ones that private sign up for the monthly events newsletter. The links in the show note and then if you went jacomb speak at your core virus. No Up Joking Jake. Speak at your sales kickoff marking kickoff. Your University Young Professionals Club your industry meeting whatever let us. Don't be happy to share the details. I probably should not a joke about the absorb people. I just find the overreaction funding and then why not go ahead and go to the website use your email address and we promise not to spam you and finally joined the Lincoln Group. It's what the number is is growing quick but it's getting really cool great content. Everything's moderate by real persons to new spam there. Nobody trying to sell you doorknobs or whatever damp psychosis along show where I was forty minutes ready to get out of here. Let's go. I remember. Folks do great work. Pay It forward and we will see you next time. Hey everybody Alex here. With the events on deck for the next month we have some exciting things coming up to happy hours one in Pittsburgh and one in Denver so the first one will be happening on March twenty second at Bubbas Gourmet Burgers and beer. This event won't be from four to seven and will feature a live recording of oil and gas this week with Jake Corley Markel Corp so be sure to check that out you can sign up via our social media. We have an event bright sign up and should be good to go from there. The next event will be a happy hour in Denver at Liberty Oilfield Services on April second once again check our social media for the event bright sign off and sign up there ask some of our social media followers no we are headed to Aberdeen Scotland the first week of March but he had a couple of days actually for Doku con creating high impact sales and energy dokru excited to launch its very first sales development conference and Obgyn's mark and Patrick will be hosting a panel and recording a live podcast. So we're really excited to be joining map. The leaders in industry luncheon is on March eleventh at the Petroleum Club of Houston. Port of the future is happening on March tenth and Eleventh in Houston your registration to the port of the future conference also allows you access to exclusive events including TSA security and terrorism research showcase and many more so be sure to view the agenda and see what they are offering the Houston energy. Breakfast will be on March twentieth at the Norris Conference Center in Houston the API Energy Houston three gun. Chapter will be on March twentieth this spilling out very quickly so make sure to get a team in as soon as possible. The BP Energy Outlook Twenty twenty edition will be on April twenty. First it's happening online and this event is about transitions that will take place to a low. Carbon Energy System does offer this month. Everybody hope you guys have a good month and check back in next month to see what we're having thanked next week for another informative and entertaining episode of Oil and gas this week. Podcast a product of the oil and gas global networks. Learn more at Moreland this week dot com.